103,601 Shares in M/I Homes, Inc. $MHO Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in M/I Homes, purchasing 103,601 shares valued at approximately $11.83 million, which represents about 0.39% of the company's stock.
• M/I Homes reported $4.42 earnings per share (EPS) for the last quarter, slightly missing the consensus estimate, but showing a 4.8% increase in revenue compared to the previous year.
• The company's stock has seen a high of $176.18 and a low of $100.22 over the past year, with current shares trading around $146.96.

Nuveen LLC bought a new position in M/I Homes, Inc. (NYSE:MHO - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 103,601 shares of the construction company's stock, valued at approximately $11,829,000. Nuveen LLC owned approximately 0.39% of M/I Homes as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. grew its position in M/I Homes by 10.2% in the first quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company's stock worth $146,489,000 after acquiring an additional 118,778 shares in the last quarter. Northern Trust Corp boosted its position in M/I Homes by 8.4% during the fourth quarter. Northern Trust Corp now owns 347,000 shares of the construction company's stock valued at $46,134,000 after buying an additional 26,820 shares during the period. Royce & Associates LP boosted its position in M/I Homes by 14.4% during the first quarter. Royce & Associates LP now owns 314,362 shares of the construction company's stock valued at $35,894,000 after buying an additional 39,491 shares during the period. Millennium Management LLC boosted its position in M/I Homes by 85.5% during the fourth quarter. Millennium Management LLC now owns 238,826 shares of the construction company's stock valued at $31,752,000 after buying an additional 110,086 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in M/I Homes by 77.5% during the first quarter. Allianz Asset Management GmbH now owns 229,065 shares of the construction company's stock valued at $26,155,000 after buying an additional 100,029 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Zacks Research upgraded shares of M/I Homes to a "strong sell" rating in a research report on Tuesday, August 12th. Raymond James Financial cut their price target on shares of M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th. Finally, Zelman & Associates upgraded shares of M/I Homes from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $162.50.

M/I Homes Trading Up 0.6%

Shares of NYSE:MHO traded up $0.87 during midday trading on Wednesday, hitting $146.21. 68,532 shares of the stock traded hands, compared to its average volume of 283,304. M/I Homes, Inc. has a one year low of $100.22 and a one year high of $176.18. The stock has a market capitalization of $3.92 billion, a PE ratio of 8.03 and a beta of 1.60. The business's 50 day moving average is $123.50 and its two-hundred day moving average is $115.91. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.43 by ($0.01). M/I Homes had a return on equity of 17.23% and a net margin of 11.40%.The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. M/I Homes's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, research analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.